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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Tavsun | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 4/9/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 9-4-2018: Ariana Resources Plc announces a Resource Estimation report for its Tavsun deposit at the Red Rabbit project. JV with Proccea Construction Co. - Updated mineral resource estimate for Tavsan. Ariana Resources plc (“Ariana” or “the Company”), the | |
| Resources: | (Resource, 3.979Mt @ 1.32g/t Au, 4.42g/t Ag for 168900 troy oz Au, 571700 troy oz Ag contained | |
| CP/QP: | [Resources]: Joe Hirst (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | Ariana Resources plc (“Ariana” or “the Company”), the exploration and development company with gold mining operations in Turkey, is pleased to announce a Joint Ore Reserves Committee (“JORC”) Resource update for the Tavsan Project (“Tavsan” or “the Project”). Tavsan is part of the Red Rabbit Joint Venture (“JV”) with Proccea Construction Co. and is 50% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. (“Zenit”) Dr. Kerim Sener, Managing Director, commented: “This is an exceptionally pleasing and robust resource update for the Tavsan Project. We are increasingly confident in the potential for Tavsan to be developed in the medium-term and that planned mine life can be increased beyond four years, as previously defined in the Scoping Study of 2016. The JV is targeting the development of Tavsan as a semiautonomous project with the Kiziltepe Mine, within the broader context of the Red Rabbit Joint Venture with Proccea Construction Co. Further work will be required on a Feasibility Study and EIA, which the JV is aiming to complete largely in-house, along with associated permitting. The JV is planning to commence these work programmes during 2018, which are expected to be funded through cash flow from the Kiziltepe Mine.” | |
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